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Articles by Sanity Bear
Mueller's 'Right Hand Man' Represented Hillary Clinton IT Staffer Who Installed Her Illegal Server
In a trend which should surprise exactly nobody, another member of the Mueller team has been found to have deep ties to Trump's opponents.
This Recovery Isn't All That Resilient, Here's Why
Authored by Danielle DiMartino Booth via Bloomberg.com, When adjusted for inflation, credit card usage has grown faster than incomes for 18 months... Are Federal Reserve stress tests leading economic indicators? That certainly seems to be the case. Just ask Capital One Financial Corp. As of the first quarter, credit card loss provisions at Capital One were above 5 percent, a six-year high.
Podesta Part 18: Wikileaks Releases Another 1,300 Emails; Total Is Now 31,500
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Deutsche CEO Goes Full 'Dick Fuld': Bailout "Out Of The Question" Sees "Few Risks... Comfortable Liquidity"
Will John Cryan's name go down in the annals of financial history lore alongside Erin Callan, Joe Gregory, and Dick Fuld? Given the extreme level of denial and hubris the Deutsche Bank CEO reportedly uses in an interview with Germany's Bild magazine, we'd say chances are better than even.
Dear Angela, Your Refugee Crisis Is Back
Submitted by Michael Shedlock via MishTalk.com, To make changes in the EU, 28 nations all have to agree. Thus, it takes years to negotiate treaties, in the best case scenario. In regards to the refugee crisis, a number of countries have essentially to her highness, Angela Merkel “Go to hell”. The average citizen is fed up, even in Germany. And things are about to get worse because a flood of migrants is again pouring into Europe, this time into Italy. How will Merkel respond this time?
"Suicidal" Trader Loses Everything, Launches Online Begging Site
Back in November, when Martin Shkreli had just unleashed his ill-fated manipulation of Kalobios stock, one trader got crushed. As we reported then, one "E-trader", Joe Campbell, decided to go $35,000 short KBIO the night before the massive ramp in the stock following the Shkreli press release and ended up owing ETFC "a wonderful $106K" margin call. His response was to launch a GoFundMe website opening up his plight to generous online donors.
How Italy Will Fail And Drag Down The European Project
Italy is big enough to matter (it is the eight largest economy on the planet), but so uneventful that most does not pay any attention to what is going on there. We contend that Italy will, during the next year or two, be on everyone’s radar screen as it has the potential to derail the European project for real. Greece, Portugal and Ireland were mere test subjects for what will come. Spain would have been a challenge, but were narrowly avoided.
Here Are The Top 50 Most Popular Hedge Funds Stocks, And 2015's 50 Best Performing Hedge Funds
This post is divided in two clear parts. The first one shows what according to the latest set of 13F filings, were the most popular stocks within the hedge fund community. According, to Goldman, among the entire universe of publicly traded US stocks, the list of 50 names that have the largest number of hedge fund investors are the following.
24 Hours After Syrian "Ceasefire" Deal, Nobody Trusts Anybody
On Monday, the US and Russia announced that an agreement on a “cessation of hostilities” in Syria had been reached. The deal applies only to groups not deemed to be “terrorists” and that determination will supposedly be made by Washington and Moscow with the proper deference to UN designations. On Tuesday, Bashar al-Assad said his government (or whatever is left of it) is prepared to abide by the terms.
What The Pundits Don't Get About Trump
The class war is already underway, and the petit bourgeois media is clueless. The typical bourgeois mainstream media pundit is confused and alarmed by Donald Trump's ascendancy. The typical pundit is a member of the petit bourgeois who has zero contact with the working class in America, other than saying "hello" to his/her auto mechanic, hair salon employee, etc.
A Panicked China Orders Media To Stick To "Positive Reporting" Or Risk "The Stability Of The Country"
If China's recent record surge in loan creation, and its revision of a key PBOC capital outflow "data" wasn't sufficient proof that the world's second largest economy is on the verge of panic, then the explicit propaganda directive issued to the the local press by China's president Xi Jinping late on Friday should certainly seal it.
The Evil Empire Has The World In An Economic "Death Grip"
In my archives there is a column or two that introduces the reader to John Perkins’ important book, Confessions of an Economic Hit Man. An EHM is an operative who sells the leadership of a developing country on an economic plan or massive development project. The Hit Man convinces a country’s government that borrowing large sums of money from US financial institutions in order to finance the project will raise the country’s living standards.
Oil Market Shrugs At OPEC Jawboning
Either the algos aren't paying attention or the market's just too focused on the roll to care about another round of headline hockey from OPEC, but crude hasn't budged in the face of a barrage of one-liners from OPEC's secretary general Abdalla Salem El-Badri who spoke from the annual IHS CERAWeek conference in Houston. It's all shale's fault then, and the Saudis are powerless to support prices. Got it.
Geneva Swiss Bank Just Called The Top On The "Bear Market Rally", Cashes Out
Moments ago, after having called the bear market bounce for what it was just on February 11, and positioned accordingly to take advantage of the expected 6-8% rebound... ... Swiss private bank Geneva Swiss Bank just called the end of the bear market rally, and has gone back to a market neutral stance. Here is its reasoning: Please note that after this nice rebound in equities, we are moving tactically cautious.
While The ECB Starts A 'War On Cash', European Citizens Start Hoarding!
The European Central Bank has shed some more light on its operations in 2015, the year wherein it decided to forget about the free market economy as the bank has become one of the main market participants now. The Central Bank’s net income from the asset purchase program increased from 2M EUR to 161M EUR, and the asset purchase program was responsible for the 9.4% increase in the net profit of the bank.
P2P Site That Financed San Bernardino Massacre Hikes Rates Citing "Turbulent Markets"
“Peer-to-peer lending is probably a bad idea,” we wrote, earlier this month. “Securitizing peer-to-peer loans is definitely a bad idea,” we added. The P2P space has witnessed monumental growth over the past several years. P2P platforms lent over $12 billion in 2015 alone and as we documented last summer, Wall Street is supercharging the space by securitizing the loans.
2016 Is Off To A 'Good' Start
If bad news is good news again (which judging by Bullard's bullshit overnight it is), then 2016 is off to a 'great' start... What did you do Janet?
If You Like Your Constitution, You Can Keep It...
93,557 - This Is The Real Reason For The War On Cash
If Oil Stays At $35, This Is What Energy Company Leverage Will Look Like
With the market enjoying its biggest three-day short-squeeze since 2011, one can be forgiven to forget, if only briefly, that nothing has been fixed. Furthermore, if the OPEC meetings of the past two days have demonstrated anything, it is to confirm that not only is OPEC finished as a cartel, but that OPEC has no power over the marginal oil producers in Texas, aside from bankrupting them by pressuring prices lower. Which is precisely what it will do.
21 New Numbers That Show That The Global Economy Is Absolutely Imploding
Submitted by Michael Snyder via The Economic Collapse blog, After a series of stunning declines through the month of January and the first half of February, global financial markets seem to have found a patch of relative stability at least for the moment. But that does not mean that the crisis is over. On the contrary, all of the hard economic numbers that are coming in from around the world tell us that the global economy is coming apart at the seams.
American Democracy? - Money, Super-Delegates, & Hacked Voting Machines
Jesus once remarked to a wealthy man that “it is easier for a camel to pass through the eye of a needle than it is for a rich man to go to heaven.” Today, we could amend the words of that Biblical reference with the US presidential race underway: Let’s start with the phenomenon of what is called a “minority president.” No, that is not a president who identifies as an ethnic or racial minority in the US.
If This Is "Transparency" - We'd Hate To Know What Secrecy Looks Like
In the spirit of the transparency — of which the Obama administration claims to be a champion — there will be no details regarding the allocation of non-military intelligence spending in the president’s final budget request to Congress.
What The Big Short Can Teach You About Investing
My kids have the mental age of ten and eleven year olds, because, well, they are ten and eleven years old! So, they fight pretty much constantly. For example: when my son wants past his sister in the hallway and she's "in the way," he hasn't yet formulated the reasoning to wait for her to move, and instead shoves past, sending her into the wall. She, not having developed a cogent argument why this shouldn't take place, whacks him. Hard at work here are primal responses.
Saudi Stocks Slammed As War Worries Trump Dead-Crude-Bounce
Oil's late week surge provided much buying excitement asd Mid-East equity markets opened with flashing green numbers across every screen. However, by the close, it was a sea of red with Kuwait, Egypt, Amman, and Iraq all lower and Saudi's Tadawul All Share Index tumbling almost 4% from the opening highs as war worries dragged The Kingdom's stock market back near 5-year lows. Not "off the lows"... As Saudi Bank risk begins to rise once again...
Washington's Dismal Comedy Of Terrors - When In Doubt Bomb Syria
Poor ISIS. Try as they might, the men in black still can’t out-terrorize their enemies or, more pointedly, even their patrons. For the past three years, decapitations have served as the money shots for ISIS’s theater of cruelty. Then on New Year’s Day the Saudis upstaged ISIS by audaciously chopping off the heads of 47 men, including a prominent Shia cleric.
Caught On Tape: 800 Angry Farmers Storm Greek Ministry, Beat Cops With Shepherd's Sticks
On Friday, we got confirmation of what everyone already knew: the Greek economy is still mired in recession. GDP contracted 0.6% in Q4 after shrinking 1.4% in Q3. We also found out that Greek farmers have most assuredly not calmed down since they parked their tractors in the middle of the street blocking traffic late last month. Why are the farmers mad, you ask?
Bloomberg Vs. Trump?
The morning of the New Hampshire primary, Donald Trump, being interviewed on “Morning Joe,” said that he would welcome his “friend” Michael Bloomberg into the presidential race. Which is probably the understatement of 2016. The three-term mayor of New York and media mogul whose fortune is estimated at $39 billion, making him one of the richest men on earth, told the Financial Times on Monday he is considering a run.
The Hidden Agenda Behind Saudi Arabia’s Market Share Strategy
Do the Saudis have an oil market strategy beyond pumping crude to defend their market share? Are they indifferent to which countries’ oil industries survive? Or, alternatively, are they targeting specific global competitors and specific national markets?
What The BOJ's Final "Yentervention" Option Would Look Like
Japanese stock markets have crashed 15% (the "most since Lehman") and USDJPY plunging (most since 1998) since Kuroda unleashed NIRP and are down 11% since QQE2 was unveiled to save the world from an absent Fed. So with NIRP and QE (and jawboning) now 'useless' for Japanese monetary policy, there is only one option left - Yentervention.
The Physics Of Energy & The Economy
Submitted by Gail Tverberg via Our Finite World blog, I approach the subject of the physics of energy and the economy with some trepidation. An economy seems to be a dissipative system, but what does this really mean? There are not many people who understand dissipative systems, and very few who understand how an economy operates. The combination leads to an awfully lot of false beliefs about the energy needs of an economy.
America's Most Hated Man Martin Shkreli Sued Over Ol' Dirty Bastard Cartoons
When last we checked in on the “most hated man in America”, Martin Shkreli had just taken a $40 million hit on his E*Trade account. That’s a problem for two reasons. For one thing, the account only had $45 million in it in the first place. For another, it was used to secure a $5 million bail bond after federal agents arrested everyone’s favorite pharma “bro” in December.
This Is What Yellen Could Say Tomorrow To Unleash A Market Surge
While the markets have been generally lacklustre in the past two days, much of the enthusiasm associated with the last hour spike on both Monday and Tuesday had to do with optimism involving a significant relent by Janet Yellen during her semi-annual 2-day testimony in Congress starting tomorrow at 8:30 am.
Gundlach: Bonds Won't Bottom Until Panic Sends VIX Above 40
Over the past two years, Jeff Gundlach has been alternating between dispensing fire and brimstone, and doom and gloom. More importantly, he has also been right which explains why as his arch nemesis Pimco has been losing billions in AUM, Gundlach's DoubleLine has been getting bigger by the day.
"A Key Technical Indicator Just Rang The Bell On The Cyclical Bull Market"
While the primary topic of Albert Edwards' most recent note is the question how long China can sustain its FX intervention before tapping out and letting the hedge funds win with their short Yuan bets once total reserves drop below the critical redline of $2.7 trillion (the answer incidentally is between 5 months and 10 months assuming monthly reserve burn rates of $130BN to $60BN), we will skip that part as we have discussed it extensively in the past, and instead will fast forward to some...
FANGs Crash Most Since August's "Black Monday" Collapse
Do you remember when Greenspan was befuddled when natural market rates wouldn't obey his commands in the previous decade? Well, I sure hope Yellen does. Even if she doesn't the high yield financed US...
"Fukushima Class Disaster" - L.A. Gas Leak Spewing Lethal Levels Of Breathable Nuclear Material
In a breaking development that has been completely ignored by mainstream news sources, the leaking natural gas well near Los Angeles, California is now reportedly spewing lethal levels of radioactive material, according to a report from Steve Quayle and a group with expertise in nuclear material. Hal Turner of Super Station 95 reports that the well is releasing 1.91 Curies (Ci) of radiation per hour.
A Distracted Society Keeps The Police State In Power
Submitted by John Whitehead via The Rutherford Institute, If there are two spectacles that are almost guaranteed to render Americans passive viewers, incapable of doing little more than cheering on their respective teams, it’s football and politics - specifically, the Super Bowl and the quadrennial presidential election.
Visualizing The World's Most Famous Case Of Deflation, Part 1
The Great Depression was the most severe economic depression ever experienced by the Western world. As VisualCapitalist notes, it was during this troubled time that the world’s most famous case of deflation also happened. The resulting aftermath was so bad that economic policy since has been chiefly designed to prevent deflation at all costs. The transition from wartime to peacetime created a bumpy economic road after World War I.
Obama Proposes $10/Barrell Oil Tax To Fund Government Transportation Investments
"It's a supply issue", "No, it's a demand issue" - when it comes to the cause for plunging oil prices, the two camps will surely never agree on just what is causing it. Luckily, Obama may provide just the tiebreaker. Moments ago, Politico reported that in his final budget, Obama is set to unveil an ambitious plan for a “21st century clean transportation system.” which will be funded by a $10/barrel tax on oil. Punishment for evil oil companies, you say?
"Stable" China's Economic Bounce Is Over: PMIs Plunge In January
After an almost unprecedented surge in credit (total social financing) and over-invoicing enabled a bounce in China's PMI data in December, both Manufacturing and Services data tumbled in January, confirming South Korean trade data. While manufacturing continues its contraction (dropping to 49.4, the weakest since Aug 2012), it is non-manufacturing's plunge from a one-year high "transition is happening, see" narrative to practically the weakest print since 2008.
Dallas Fed "Responds" To Zero Hedge FOIA Request
Two weeks ago, Zero Hedge reported an exclusive story corroborated by at least two independent sources, in which we informed our readers that members of the Dallas Federal Reserve had met with bank lenders with distressed loan exposure to the US oil and gas sector and, after parsing through the complete bank books, had advised banks to i) not urge creditor counterparties into default, ii) urge asset sales instead, and iii) ultimately suspend mark to market in various instances.
Is Russia Imploding In Front Of Our Eyes... Again?
Certain countries are starting to feel the pain of the low oil prices. In a previous column, we already warned you about the potential problems in Saudi Arabia that might spill over to the USA. Saudi Arabia was quickly moving towards a government deficit of almost 22% of the GDP, resulting in a shortage of $150B on the total budget in 2015.
What Sent Stocks Soaring Overnight: DB's Jim Reid Explains
Earlier today we showed the three key headlines that summarized today's euphoric mood, and explain the general liftathon among massively oversold risk assets: And now, here is DB's Jim Reid putting it all together, and explaining that whatever it was that sent global equity markets to all time highs despite global economic slowdown as recently as last summer, is once again back front and center: Yesterday the folks on Bloomberg TV finally had something to get excited about with the ECB...
The Birth Of The PetroYuan (In 2 Pictures)
It belongs to the Chinese now! As we previously detailed, two topics we’ve deemed critically important to a thorough understanding of both global finance and the shifting geopolitical landscape are the death of the petrodollar and the idea of yuan hegemony.
GM/Ford Credit Risk Surges To 2 Year Highs As Fitch Raises Auto Sector Concerns
With the feds probing Deutsche Bank's exaggerating Auto ABS demand, car dealerships suing automakers for being forced to channel-stuff, direct evidence of massive channel-stuffing with near-record inventories-to-sales, and sales now beginning to tumble after last month's weak credit growth, it is perhaps no wonder that Fitch has raised the warning flag about automotive vehicle and parts makers... As we demonstrated last week, the cracks are already starting to show.
More Smoking Guns - Will Hillary's Next Stop Be The White House Or The Big House?
The federal criminal investigation of former Secretary of State Hillary Clinton’s failure to secure state secrets was ratcheted up earlier this week, and at the same time, the existence of a parallel criminal investigation of another aspect of her behavior was made known. This is the second publicly revealed expansion of the FBI’s investigations in two months. I have argued for two months that Clinton’s legal woes are either grave or worse than grave.
Saudi Arabia: A Weak Kingdom On Its Knees?
The great Kingdom of Saudi Arabia - the long-time dictator of crude oil prices for the world - is struggling on all fronts. The Saudis are losing their proxy wars in both Syria and Yemen; their OPEC leadership is under threat; they are not winning the crude oil price war; and its long-running alliance with the West is in question. From Saudi Arabia’s perspective, Iran seems to be gaining ground everywhere.
You Know Negative Interest Rates Are Bad When...
Switzerland is famous for being punctual. The trains. The buses. The meticulously crafted, hand polished luxury watches. The Swiss are so culturally punctual that they even tend to pay their taxes well in advance of the filing deadline. So it was quite a shock to hear this morning that the Swiss canton of Zug is asking its citizens to delay paying their taxes for as long as possible.
President Obama's Final State Of The Union Address - Live Feed
As President Obama prepares to unleash his final State Of The Union speech, The White House has conveniently focused attention on the following six "success stories": The Economy (record low number of men in workforce), The Climate (too hot for retail, too cold for construction), Foreign Policy (bwuahahaha), Health Care (record number of Americans cutting back to afford medical costs), and Social Progress (record high racial tensions, police state, surveillance state, and record low trust in...
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